Converting Paper Market: Global Industry Analysis and Forecast (2023-2029)

Converting Paper Market was valued at US$ 384.80 Bn. in 2022. Converting Paper Market size is estimated to grow at a CAGR of 2.37%.
Converting Paper Market Overview:
Converting paper is a crucial stage of turning raw paper from mills across the globe, into a finished product like a book or magazine. Intermediate bulk containers, liners, sacks, and absorbents are all manufactured with the converting paper material. Converting paper is used for several purposes, including hygiene paper, writing paper, printing paper, and newsprint. The majority of paper is made from wood fibers known as pulp. In a process called webbing, this pulp is bubbled, colored, squeezed, flattened, and dried to produce a continuous sheet of paper. The paper is then rolled into a finished roll or reel of paper, which is then cut down to a size that can be used. This process of cutting rolls down is used in the paper converting process.To know about the Research Methodology :- Request Free Sample Report
Converting Paper Market Dynamics:
The use of converting paper for functions other than writing and printing is continuously increasing across the globe. For example, the sanitary and packaging industry is becoming the leading end-user in the converting paper market. The growing adoption of converting paper in industrial packaging is becoming more popular as it has low cost and long-term sustainability when compared to plastic, metal, and glass. The growing usage of converting paper material for the manufacture of intermediate bulk containers, sacks, absorbents, and liners has grown significantly, which is boosting the product demand across the globe.

The growing demand for personal hygiene paper products across the globe is expected to uplift the converting paper market growth throughout the forecast period. Converting papers are generally used to make hygiene paper products including baby diapers, tissue paper, and others. For instance, in April 2022, Huanlong Group announced the start of an expansion project that will produce 50,000 tonnes of high-end tissue paper annually. Huanlong Group has been able to increase its yearly tissue paper and convert capacity beyond its previous capacity of 100,000 tonnes.

With the growing consumer expectations for quality and the necessity for lightweight package formats, the e-commerce industry is adopting converting paper for shipment packaging. The penetration of E-Commerce in the retailing industry is rapidly increasing, leading to greater demand for effective packaging solutions, which is one of the most important factors influencing consumer preference. As a result, to ensure major market share, companies want to keep one step ahead of their competition, which in turn, they are expected to invest in superior packaging solutions. These factors are expected to boost the converting paper market growth throughout the forecast period.

The growing adoption of digitalization is expected to lower the demand for printing and writing paper. For instance, Paper is being replaced by digital media and paperless communication, posing a major threat to the traditional market for newspaper and office paper. With the rise of the e-commerce industry and consumer preference for converting paper packaging formats, the market share of printing and writing paper is transferring to packaging paper. Digitalization is having a negative impact on the printing and writing paper markets, but it still has advantages for converting paper manufacturers and suppliers. Converting paper and packaging companies are using digital solutions to improve their customer service and manufacturing activities, ensuring better product quality, tracking information for shipping goods, and easy customer support.
Converting Paper Market Segment Analysis:
Based on the Product Type, the Converting Paper Market is segmented into Coated and Uncoated. The Coated segment held the largest market share, accounting for 67.4% in 2022. Coated converting paper gives improved physical properties such as dirt, tear, and wear resistance upon paper substrates, leading to higher adoption by converting paper manufacturers across the globe. The coated converting paper provides longer life span compared to uncoated converting paper, which is boosting the product demand.

Based on the End-User. The Converting Paper Market is segmented into Packaging & Wrapping, Food Service, Printing, and Consumer Goods. The Packaging & Wrapping segment held the largest market share, accounting for 41% in 2022. In the packaging industry, converting paper is used to make carton boards, corrugated board, and flexible paper. The growing packaging industry is driving the converting paper demand across the globe. For example, the Wisconsin Economic Development Corporation (WEDC) reported in 2022 that the Indian packaging industry provided significant business opportunities and accounted for about 4% of the global packaging industry. In addition, growing environmental awareness, leads to consumers and manufacturers are adopting paper packaging products, resulting in boosting the converting paper market growth.
Converting Paper Market Regional Insights:
Asia Pacific region held the largest market share accounted for 38.92% in 2022. The Converting Paper Market of the Asia Pacific region is showing northward direction growth, thanks to the growing demand for newsprint driven by rising population and growing literacy rates in the region. According to Credit Analysis & Research, an increase in the number of magazines and newspapers in India, along with rising circulation, is expected to enhance newsprint consumption to 2.7 million tonnes in 2022. As a result, a significant increase in demand for newsprint is expected to boost the converting paper market growth during the forecast period.

Europe region is expected to witness significant growth at a CAGR of 2.31% during the forecast period. Over the forecast period. According to the Confederation of European Paper, the paper and board production remained constant in 2022 compared to the previous three years. In 2022 total paper production increased to 98.73 million tonnes, up from 92 million tonnes in 2022, thanks to the improvements to existing machines and a 1.3 million tonne increase in net capacity.

The objective of the report is to present a comprehensive analysis of the global Converting Paper Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Converting Paper Market dynamic, structure by analyzing the market segments and projecting the Converting Paper Market size. Clear representation of competitive analysis of key players by Technology, price, financial position, product portfolio, growth strategies, and regional presence in the Converting Paper Market make the report investor’s guide.
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Converting Paper Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 384.80 Bn.


Forecast Period 2023 to 2029 CAGR:
2.37%
Market Size in 2029:
US $ 453.37 Bn.


 Segments Covered:
by Product Type
Coated
Uncoated


by Pulp Type
Mechanical Wood Pulp
Non-Wood Pulp
Chemical Wood Pulp
Semi-chemical Pulp
Recycled Pulp
Global Converting Paper


by End-User
Packaging & Wrapping
Food Service
Printing
Consumer Goods



Converting Paper Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Converting Paper Market Key Players are:
1. Georgia-Pacific LLC
2. International Paper Company
3. UPM-Kymmene Oyj
4. Domtar Corporation
5. Verso Corporation
6. Burgo Group SPA
7. American Eagle Paper Mills
8. Catalyst Paper Corporation
9. Rolland Enterprises Inc.
10.Finch Paper LLC
11.Verso Corporation
12.BillerudKorsnäs AB,
13.Catalyst Paper Corporation
14.Alberta Newsprint Company Ltd.
15.Stora Enso Oyj
16.Canfor Corporation
17.Clearwater Paper Corporation
18.P.H. Glatfelter Co.
19.Mitsubishi Paper Mills Limited

Frequently Asked Questions:

1] What segments are covered in the Converting Paper Market report?
Ans. The segments covered in the Converting Paper Market report are based on Product Type, Pulp Type, and End-User.

2] Which region is expected to hold the highest share in the Converting Paper Market?
Ans. The Asia Pacific region is expected to hold the highest share in the Converting Paper Market.

3] What is the market size of the Converting Paper Market by 2029?
Ans. The market size of the Converting Paper Market by 2029 is US$ 453.37 Bn.

4] What is the forecast period for the Converting Paper Market?
Ans. The forecast period for the Converting Paper Market is 2023-2029.

5] What was the market size of the Converting Paper Market in 2022?
Ans. The market size of the Converting Paper Market in 2022 was US$ 384.80 Bn.